Bulls n Bears Investors Notebook Issue 209: 14 March 2019

Thu Mar 14 09:57:31 CAT 2019

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Bulls n Bears Investors Notebook Issue 209: 14 March 2019

 <mailto:info at bulls.co.zw> 

Bulls 'n Bears Investors Diary: Today's Events

Quotable Quote:

Relations are all about: Winning, Losing & Sharing.
Winning Trust, Losing ego

ZITF responds to demand. . .Increases exhibition space, 85% snapped up   

THE Zimbabwe International Trade Fair (ZITF) Company has increased
exhibition space for this year's showcase to 50 380 square metres from 49
307 square metres in 2018 in response to growing demand for bookings. ZITF
Company acting general manager, Mr Nicholas Ndebele, said 380 exhibitors,
including nine foreign entities, have already registered their participation
with 85 percent of space booked. <http://www.bulls.co.zw/> Read more >

Greenlight for civil servants' duty free cars   

Government has given civil servants the green light to import cars duty-free
as President Mnangagwa's administration continues to cushion its workers
through non-monetary incentives. The Government workers officially received
the good news during a National Joint Negotiating Forum (NJNC) held in
Harare yesterday. This comes amid reports that Government is working on
increasing sector-specific allowances for its workers beginning April.  A
cost of living adjustment will also be effected next month.
<http://www.bulls.co.zw/> Read more >

 <http://www.firstmutualproperties.co.zw/> 

For more business & financial updates log onto <http://www.bulls.co.zw/>
www.bulls.co.zw

US$1 million for essential medicines   

GOVERNMENT has secured US$1 million for the procurement of essential
medicines and equipment needed in public hospitals. Health and Child Care
Minister Dr Obadiah Moyo told our Harare Bureau yesterday that the Ministry
had also made arrangements with some companies to get medical supplies and
pay through RTGs as part of efforts to ensure pharmacies are well stocked
and medicines and surgical supplies are available. <http://www.bulls.co.zw/>
Read more >

Fuel liberalisation opens new frontiers   

Government's decision to liberalise the importation of fuel has opened a new
frontier for a leading fuel solutions company, Garage and Forecourt (Pvt)
Ltd, which is now working on the new importers' fuel management systems.
Cabinet, early this month, liberalised the importation of fuel to ease
stock-outs that were affecting industry operations by allowing big
corporates - particularly those in mining, agriculture and manufacturing
sectors to use their free funds to import fuel for own use.
<http://www.bulls.co.zw/> Read more >

Old Mutual reports earnings growth   

Old Mutual Plc posted an 8 percent growth in headline earnings for the year
to December 31, 2018. Headline earnings for the 12-month period under review
rose to R14,2 billion from R13,1 billion in the prior year. In a statement
accompanying the results, group chief executive officer Peter Moyo expressed
satisfaction with the group's performance. "We continue to be a highly cash
generative business with R6,6 billion of free cash generated in 2018 which
has more than covered our dividends to our shareholders.
<http://www.bulls.co.zw/> Read more >

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Zim eases grip on new currency in bid to end dollar squeeze   

For investors who doubted Zimbabwe would let market forces determine the
price of its new currency, there's evidence it's doing just that. The
southern African nation's central bank has allowed the currency, known as
RTGS, to slide to 2,6481 per dollar this week, taking its depreciation since
trading started on February 22 to 5,6 percent. That marks a change from the
previous fortnight, when it was stuck at almost exactly 2,5.
<http://www.bulls.co.zw/> Read more >

Gold deliveries up 30 percent   

GOLD deliveries to Fidelity Printers and Refineries (FPR) have recorded a 30
percent increase for the months of January and February this year compared
to the same period last year, an early indication that the 40 tonnes annual
target set by Government could be achieved. Government has this year set an
ambitious gold delivery target of 40 tonnes and this comes after a record
high of 33,2 tonnes last year.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Tobacco to boost foreign currency inflows   

Zimbabwe's 2019 tobacco marketing season commences on Wednesday next week
according to the Tobacco Industry and Marketing Board (TIMB) amid high
expectations the golden leaf will boost foreign currency     inflows.
Traditionally, the marketing season kicks off in February, but was delayed
this year due to late planting resulting from late rains experienced in the
country. <http://www.bulls.co.zw/> Read more >

ICT infrastructure key to vision 2030   

THE setting up and deployment of information communication technology
infrastructure is critical to the attainment of President Mnangagwa's vision
of an upper middle income economy by 2030. This was said here yesterday by
Information Communication Technology and Courier Services Minister Kazembe
Kazembe during the official commissioning of the US$23,6 million National
Backbone Fibre Link project that connects Zimbabwe with the rest of the
world through South Africa. <http://www.bulls.co.zw/> Read more >

'Interbank market forex unavailable'

BUSINESSES in Bulawayo say they are struggling to access foreign currency
from the interbank market due to its unavailability, contrary to the central
bank's statement that the firms could not afford to purchase it at the 2,5
rate to the US dollar. While appearing before the Portfolio Committees on
Public Accounts Budget, Finance and Economic Development on Monday, Reserve
Bank of Zimbabwe governor John Mangudya said some companies had been
struggling to purchase foreign currency on the official market because they
can't afford the 2,5 rate. <http://www.bulls.co.zw/> Read more >

Empowerbank disburses over $1,2 million in loans to young entrepreneurs

EMPOWERBANK has to date disbursed over $1,2 million in loans to young
entrepreneurs across the country with another $4 million in applications
still under consideration, the bank's board chairman Raymond Njanike has
said. The bank, which was launched by government last year to support
various youth initiatives, is capitalised to the tune of US$12,5 million.
<http://www.bulls.co.zw/> Read more >

ZETDC seeks tariff increases

ZIMBABWE'S power utility is considering increasing electricity tariffs by as
much as 30% to reflect the rise in production costs following the
devaluation of the local currency last month. Monetary authorities in the
southern African nation removed the 1:1 peg set against the greenback,
allowing a managed float of the local currency. Tariffs are currently priced
at 9,38 cents per kilowatt/hour, which is about US$0,04 when using an
average exchange rate of 1:2,5. <http://www.bulls.co.zw/> Read more >

Zim trade registers $44,2m deficit

ZIMBABWE'S trade opened the year in the negative, registering a $44,2
million deficit in January, latest data from the statistics agency has
shown. Figures released by the Zimbabwe Statistics Agency (ZimStat) show
that in January, the country imported goods and services worth $336,8
million against exports of $292,6 million. However, the trade figures for
January 2018 are still not available as the Zimbabwe Revenue Authority,
which is the source of merchandise trade data, has not provided them,
according to ZimStat.  <http://www.bulls.co.zw/> Read more >

Captains of industry upbeat over BNC   

CAPTAINS of industry and commerce yesterday expressed confidence that the
Bi-National Commission (BNC) meetings held between Zimbabwe and South Africa
this week will promote trade and economic cooperation between the two
countries. Confederation of Zimbabwe Industries (CZI) president Sifelani
Jabangwe said the fact that South Africa was the largest economy in Africa
and Zimbabwe's biggest trading partner, Harare stood to benefit from closer
cooperation. President Cyril Ramaphosa yesterday said Pretoria's exports to
Zimbabwe topped 30 billion rand in 2018 making Harare a critical trading
partner in Africa.  <http://www.bulls.co.zw/> Read more >

INVESTORS DIARY 2019

Company

Event

Venue

Date & Time

Mash

AGM

Boardroom, ZB Life Towers, 77 Jason Moyo Avenue

18 March 2019 12pm

Zimbabwe 

Independence Day

Zimbabwe

18 Apr 2019 

Good Friday

19 Apr 2019

Easter Saturday

20 Apr 2019

Easter Sunday

21 Apr 2019

Easter Monday

22 Apr 2019

Workers Day

01 May  2019

REST OF AFRICA

Counters Trading Under Cautionary

Border Timbers

Econet Wireless Zimbawe

Post your event (AGM, EGM, Analysts Briefing, etc) on the Investor Diary
free of charge and reach out to the market. We have annual gold prices since
1900, monthly since January 1971 and daily prices since January 2000. We
also provide historical ZSE prices on request.

DISCLAIMER: This report has been prepared by Bulls 'n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy or
subscribe for any securities. The information contained in this report has
been compiled from sources believed to be reliable, but no representation or
warranty is made or guarantee given as to its accuracy or completeness. All
opinions expressed and recommendations made are subject to change without
notice. Securities or financial instruments mentioned herein may not be
suitable for all investors. Securities of emerging and mid-size growth
companies typically involve a higher degree of risk and more volatility than
the securities of more established companies. Neither Faith Capital nor any
other member of Bulls 'n Bears nor any other person, accepts any liability
whatsoever for any loss howsoever arising from any use of this report or its
contents or otherwise arising in connection therewith. Recipients of this
report shall be solely responsible for making their own independent
investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and sourced from third parties.

Invest Wisely!

Bulls n Bears 

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